Few are panicking, but the stock market’s slow start to the year has prompted questions about the state of the rally and whether this is the beginning of a long-awaited 10% correction, something that hasn’t happened since the summer of 2011.

The Dow Jones Industrial Average has dropped in six of the first eight trading days of the year, falling 1.9% throughout the skid. The Dow edged higher in early Tuesday trading.

Here’s what several market watchers are saying about the January selloff and what lies ahead for the markets.

Peter Boockvar, managing director and chief market analyst at the Lindsey Group: “Call yesterday’s market selloff a digestion, consolidation, a breather, overdue, well needed or whatever, but however you want to describe it, the underlying reason for it and the lackluster trading year to date goes to what I still believe will result in a down year in 2014.”

Dan Greenhaus, chief strategist at BTIG: “It hasn’t been a great start to the year (for those interested in such minutiae, the last time the S&P 500 finished up for the month of January when down this far in was back in 1998) but earnings have a funny way of reversing these sorts of trends. So while we didn’t rush to raise our S&P 500 price target in the wake of December’s strength, neither are we running for the hills in the wake of January’s weakness.”

Mike O’Rourke, chief market strategist with JonesTrading: “In an environment where even many bullish investors believe that 2013’s performance stole some of 2014’s gains, it is likely investors want to see a combination of a few solid reports and guidance before being aggressive. People don’t want to pay new highs and risk being blindsided by earnings when they can wait for the report and have clarity.”

Bruce Bittles, chief investment strategist at R.W. Baird & Co: “The loss of momentum in the opening weeks of 2014 can be explained by the fact that stocks entered January overbought and overbelieved and, therefore, vulnerable to a changing environment…Although the stock market could remain trapped in a trading range of 1810 to 1850 near term, equities will eventually move higher in the first quarter.”

Andrew Brenner, head of international fixed income at National Alliance Capital Markets: “Has the correction started? We don’t think so. But the scathing piece Goldman Sachs put out yesterday on equities took the market by surprise…We think the uncertainty of what the Fed will be doing this year will cap 10 years above 2.75% for now. We expect some major volume towards Friday that should set the equity trade for the rest of the month.”

Daniel Wiener, chief executive at Adviser Investments: “Yes, that 179.11-point drop is the largest since October 15th’s 299.65-point decline, but so what?!…As you read the round-ups of today’s market action with the Dow falling 1.09%, or 179.11 points, remember that the only panic will be amongst those who are looking for reasons to take action—any action—rather than those with a clear investment plan and objective.”